India’s food conglomerate Tata Consumer Products Ltd (TCPL) will more than double its capital expenditure to Rs 785 crore (US$94.5 million) this year as it seeks to inject more fund into Vietnam via opening a new freeze dried coffee facility there.
In Vietnam, Tata operates Tata Coffee Vietnam Co. Ltd, a 100% subsidiary of Tata Coffee. The current capacity of Tata Coffee Vietnam is about 5,000 tonnes, with more than 96% already utilised.
N. Chandrasekaran, Chairman of TCPL, highlighted that TCPL currently sells tea, coffee, water, beverages, salt, pulses, spices, ready-to-cook and ready-to-eat offerings, breakfast cereals, snacks and mini meals in India and overseas.
TCPL aims to become a full-fledged FMCG company, added Chandrasekaran. It has done several M&A activities last year with the acquisition of Capital Foods (packaged noodles/condiments) and Organic India (tea/health foods), as it seeks to expand its product portfolio.
